The purpose of this post is to inform you of an emerging Internet company, NASDAQ:TPEG, soon to be "Internet and Technology Resources" Corporation (NASDAQ:IATR).
TPEG began their transition into the Internet business approximately ninety days ago and are following a model similar to CMGI and WCAP. All the below FACTS detail their progress and can be verified by one of two ways:
1) By reviewing the company Press Releases over the last three months:
1) On January 20, 1999, TPEG formally announced a corporate
restructuring plan to redirect its business from the movie production industry to the internet / e-commerce industry.
2) On February 4, 1999, TPEG announced the purchase of a significant equity position in flowersandgifts.com. The flowersandgifts.com private placement ends 4-15-99 and an IPO follows shortly. Their website can be found at: http://www.flowersandgifts.com.
3) On February 25, 1999, TPEG announced the purchase of a significant equity position in Pacific Softworks. Their web site can be found at:
4) On March 1, 1999, TPEG announced that it will change its name to "Internet and Technology Resources" (IATR). The name change and cusip change will go into effect immediately after the shareholder's meeting May 26. Note: THE CUSIP CHANGE REQUIRE THAT SHORTS COVER
5) On April 1, 1999, TPEG announced that Pacific Softworks filed an initial public offering (IPO) on March 26, 1999, for 800,000 units.
6 On April 7, 1999, TPEG announced the appointment of Barry Sandrew, Ph.D., as executive vice president and chief technology officer. His resume can be found
7)On April 15, 1999, TPEG announced the commencement of the publication of a free bi-weekly newsletter to be available on the Internet, with the start date currently contemplated to be April 21. The report, titled ''The Sandrew Letter,'' will be authored by TPEG's Executive Vice President - CTO, Barry Sandrew, Ph.D., and can be accessed on
8) Currently, there are 9.6 million shares outstanding (including returned shares) with 6 million in the float. TPEG also has 1.7 million Warrants available (NASDAQ:TPEGW).
9) TPEG has a $5.5 million line of credit with an institutional investor, a film library from their previous industry valued at $8-15 million, and wholly owns MediaWorks International worth approximately $5 million.